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1 Strong profitability – growth investments accelerating Endre Rangnes, President and CEO Tomi Hyryläinen, CFO Q3 2026
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Q3: Strong profitability – accelerating investments to support topline growth 2 • Organic growth of -11% – 7 pp. negative impact from known headwinds • Strong adj. EBITA margin of 18.0% – solid execution of cost optimization and continued cost discipline • Strategy execution progressing as planned – transformation and increased growth investments for future growth -11% Organic growth 18.0% Adj. EBITA • Agreement to divest Indtech’s Pulp, Paper and Fibre software business • Juuso Pajunen appointed as CFO, joining the company in January 2027 • Full-year growth and profitability outlook updated on 26 October
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3 Organic growth -6 to -5% (previous -5 to -3%) ▪ Continued soft demand and ongoing transformation in Tech Consulting – transformation’s contribution to growth expected from 2027 onwards ▪ Decline in volume-based businessesin Tieto Banktech and Tieto Indtech EBITA Adj. 15.5 – 16.0% (previous 14.8 - 15.8%) ▪ Successful execution of cost optimization programme and continued cost discipline Full-year guidance for 2026 updated on 26 October
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Continued strong execution of our 4 strategic priorities 02 Simplified core ▪ Agreement to divest Indtech’s Pulp, Paper and Fibre software business ▪ AI Software Factory to improve speed, quality and competitiveness 03 Selective expansion ▪ Caretech opens the German market with University Medical Center Mainz ▪ Healthy sales pipeline development in Caretech and Banktech 04 Competitive cost base ▪ Run-rate savings of €125m – well on track to target of €130m savings by end-2026 ▪ Incremental G&A and capacity optimization ▪ Cost discipline remains embedded across the organization 01 Customer first ▪ Recruiting 70 new sales professionals • Strengthening skills and talent to support changing customer demands – up to 1,000 AI and data consultant hires ▪ Microsoft Frontier Partner status and Snowflake Premier Partner – opportunities for joint go-to- market activities ▪ Nokia Diamond Award 4
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5 Building a stronger partner ecosystem to support growth New recognitions strengthen joint go-to-market opportunities Microsoft Frontier Partner Validated AI and cloud capabilities – opportunities for joint customer engagement Snowflake Premier Partner Recognition of customer work, joint sales and technical capabilities PARTNER ECO SYSTEM
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6 Tieto Group Q3 key figures 1) Adjusted for currency effects, acquisitions and divestments 2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability 3) Comparative information includes cash flow from divestments, as well as the contribution from the court ruling in Tieto Banktech Revenue, EUR million 390 (454) Organic growth1 -11% (4%) Adjusted operating profit (EBITA)2, EUR million 70 / 18.0% (88 / 19.3%) Cash flow from operating activities3, EUR million 3 (45) Order backlog1 -2% year-on-year Net debt/EBITDA 1.3 (2.4)
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7 CCCC Organic growth -11% (-3%) €153m (188) Q3 reflects soft demand and the scale of transformation • Soft demand and project postponements in parts of the consulting market • Targeted competence adjustments to address a shift in market demand • Termination of loss-making US customer contract – impact on growth -2 pp. • Profitability supported by high utilization and reductions in delivery capacity and G&A Building the next phase of growth • Strengthening AI and data capabilities through partnerships and upskilling • Sales capacity increased by 30% • Hiring up to 1,000 consultants over the next 12 months, focus on AI and data capabilities Adj. EBITA 15.6% (13.1%) €24m (25) Transformation progressing into building capabilities and pipeline for growth Tieto Tech Consulting
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8 Tieto Banktech Organic growth -18% (15%) €134m (154) • Flat underlying growth – Comparison impact of -14 pp. from the 2025 court ruling – Legacy contract run-off impact of -4 pp. • Growth impacted by continued pressure in certain volume- based businesses • Underlying profitability improved, supported by cost optimization measures – Comparison period includes 11.9 pp. from the court ruling • Strong order backlog starting to convert into revenue, supporting growth • European sales pipeline developing well Adj. EBITA 18.1% (28.1%) €24m (43) Growth impacted by significant known headwinds
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9 Tieto Caretech Organic growth -1% (2%) €54m (55) • Continued solid performance in the modern software portfolio • Growth impacted by legacy business decline (-5 pp.) • Continued strong profitability • German market opened as University Medical Center Mainz selects Lifecare • European sales pipeline developing well Adj. EBITA 33.1% (31.7%) €18m (17) Continued strong performance – European expansion progressing with German market entry
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10 Tieto Indtech Organic growth -3% (2%) €54m (63) • Growth impacted by decline in volume-based businesses in Multichannel & BIX and Data Driven Services • Lower demand impacting Pulp, Paper & Fibre • Solid profitability maintained • Agreement to divest Pulp, Paper & Fibre business, supporting a more focused portfolio Adj. EBITA 17.9% (18.9%) €10m (12) Solid profitability – growth impacted by volume-based businesses
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CFO report 11
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Strong profitability – supported by Cost optimization programme and continued cost discipline 12 ▪ Organic growth -11% (underlying -4%) - Tech Consulting org. growth –11%, slightly below our own expectations - Negative 2pp impact from legacy contract run-off in Banktech and Caretech - Negative 5pp impact from the court ruling in Banktech in Q3’25 ▪ Strong profitability - Adj. EBITA 18.0% - Continued strong profitability in all businesses - Supported by Cost optimization programme and continued cost discipline - Prior year 19.3% Adj. EBITA impacted by IFRS5 cost burden -0.9pp and SB1 compensation +4.1pp ▪ One-time items at €7m. One-time items expectation for the year increased to approx. 2% (1.5%) of revenue, excluding capital gains. Increase due to further G&A and capacity optimization. ▪ Order backlog -1.6% YoY, impacted by softer market conditions and decline in volume-based businesses. ▪ Operating cash flow €3m. Prior year includes cash flow from divested businesses and SB1 compensation. • Full-year guidance for 2026 updated on 26 October ▪ €150m share buyback programme concluded in August. €90m share buyback programme expected to be completed mid-January 2027. Q3’26 Q3’25 Revenue and growth Revenue 390 454 Organic growth, % -11 4 Acquisitions & divestments, % -6 0 Foreign exchange rates, % 2 0 Reported growth, % -14 4 Org. growth adj. for working days, % -11 4 Order backlog 2 009 2 048 Profitability Adj. EBITA1 70 88 Adj. EBITA margin1 18.0% 19.3% One-time items -7 -23 EBIT1 57 57 EBIT margin1 14.5% 12.4% CAPEX 14 13 Cash flow and Leverage2 Operating cash flow 3 45 Free cash flow -18 217 Net debt 491 552 Leverage (net debt/EBITDA) 1.3x 2.4x All numbers in €m 1) Comparatives include cost burden due to IFRS 5, €4.0m / 0.9pp and positive €22m related to the SB1 compensation in Banktech. 2) Comparatives for Cash flow and Net debt include Discontinued Operations.
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Q3 operating cash flow of €3m – impacted by seasonality 13 Free cash flow1 (€m) Operating cash flow (€m) Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 45 103 85 21 3 81 89 -18 217 202 1) Operating cash flow less cash flow from investing activities less payments of lease liabilities 2) Excludes cash received from 2026 divestments reduced with share buyback programme execution and full exclusion of the P&L impact of the divested businesses Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 Net debt 552 556 377 389 491 EBITDA R12m 228 252 296 382 379 Leverage 2.4x 2.2x 1.3x 1.0x 1.3x Fully adjusted Leverage2 1.9x 1.9x Cash flow includes contribution from divested businesses; discontinued operations until Q3’25, BEKK until Jan’26 and Edlevo, HR&Payroll until May'26 ▪ Cash flow from operations €3m (45) - Net working capital increase of €57m (52), impacted by seasonality - Free cash flow1 of €-18m (€217m, incl. net cash flow on disposal of €201m) ▪ Overall cash generation foundation remains healthy ▪ Net debt/EBITDA 1.3x, leverage target level <2x ▪ Interest bearing net debt €491m (552), with Q3 impacted by share buyback programme of €81m ▪ EBITDA R12m include operational results and gain on sale of BEKK until Jan’27 and Edlevo and HR&Payroll until May’27
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The €130m cost optimization programme is substantially complete with €125m run rate realized by end of Q3 14 ▪ Cost optimization target to deliver €130m run rate savings by end of 2026 ▪ Execution substantially completed with €125m run rate executed by end of Q3’26 (€115m in Q2’26) - tail activities on track for Q4'26 completion ▪ Total one-time programme costs estimated to be approx. €55m (earlier €55-60m), of which €53m have been incurred 130 2025 2026 Total 95 35 Cost optimization run rate savings by end of year (€m) €130m cost optimization programme
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Personnel reductions continued - attrition at very low level 15 ▪ LTM attrition at 7.2%, reflecting continued soft market environment ▪ Cost optimization continued – net reduction of ~350 FTEs during the quarter - Tech Consulting personnel reduced by ~360 FTEs ▪ Overall Group personnel reduction of ~14% YoY (~2 100 FTEs) of which net ~650 FTEs due to acquisition and divestments ▪ Group-level salary inflation expectation unchanged at 3.0-3.5% in 2026 (4% in 2025) Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 7.5 7.8 7.6 7.3 7.2 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 14 693 14 246 13 476 12 952 12 599 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 300 250 300 280 300 Attrition % last twelve months (voluntary) Personnel End of period New hires In quarter
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Outlook remarks – Q4’26 16 Growth • Tieto Tech Consulting: Growth expected to slightly improve from Q3 level. Market demand remains soft. • Tieto Banktech: Expected to turn to growth (no structural headwinds), supported by strong order backlog • Tieto Caretech: Order backlog supporting underlying growth, headwind from declining legacy product business -4 pp. • Tieto Indtech: Slight improvement from Q3 expected as temporary pressures ease. Continued softness in Pulp, Paper & Fibre and in volume-based businesses. Profit • Cost optimization programme continue to contribute to profitability in all businesses Other • Positive 0.5 pp impact from working days
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Business Q4’25 adj. EBITA % Profitability outlook Tech Consulting 13.8% At or below Q4’25 level Banktech 18.3% Below Q4’25 level Caretech 28.9% At or above Q4’25 level Indtech 16.3% Above Q4’25 level Q4'26 profitability outlook 17
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2026 revenue growth dynamics 18 Q1 Q2 Q3 Q4 Tech Consulting Market softness expected to persist for the year Banktech Legacy run-off -5 pp. Legacy run-off -6 pp. SB1 comparison effect -14 pp. Legacy run-off -4 pp. Caretech Legacy run-off -5 pp. Legacy run-off -5 pp. Legacy run-off -5 pp. Legacy run-off -4 pp. Indtech Solid order backlog supports growth momentum Group Total legacy run-off -2 pp. Total legacy run-off -2 pp. Total legacy run-off -2 pp. SB1 comparison effect -5 pp. Total legacy run-off -1 pp. Positive growth momentum Neutral growth momentum Growth headwind Colors illustrate directional growth dynamics by quarter, reflecting relative growth momentum rather than quantified guidance.
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Our way forward 19
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From transformation to growth 20 2026 • Simplified the portfolio • Cost base reset • Reshaped competencies towards AI and data skills • Built strategic partnerships RESET AND STRENGTHEN 2027 CONVERT AND SCALE • Legacy headwinds cease • Strong order backlog converting into revenue • Developing European sales pipeline creates growth • Tech Consulting: Strengthen AI and data offerings, partnerships, sales and relevant consultant capacity